Al Rajhi Bank completes offering and subscription in Sukuk amounting to SR10 bln

Al Rajhi Bank announced on Monday that it has completed the offer and subscription of the Sukuk. The value of the offer is SR10,000,000,000. Par value (bonds/sukuk) is SR1,000 per Sak. The value of the offer is SR10,000,000,000. The return (bonds/Sukuk) is a 5.50% per annum fixed rate payable quarterly, starting from the settlement date, which will occur on 16/22/2022.
The rate of return will be reset on 16/11/2027 (“First Reset Date”), the rate of return will then be reset every five years following the First Reset Date, as set out in the applicable final terms.
The Sukuk may be redeemed by Al Rajhi Bank in certain cases as detailed in the base prospectus issued on 20/10/2022) prepared in relation to the Sukuk and the applicable final terms.
The allocation of the Sukuk to the investors will be completed by the end of Sunday 13/11/2022 and the settlement of the Sukuk will take place on 16/22/2022.
The process of refunding the excess subscription monies to the eligible investors will start on Wednesday 16/11/2022, and the excess subscription monies will be deposited in the accounts of the eligible investors in accordance with the procedures adopted by the relevant banks.
After the completion of all regulatory procedures required for the listing of the Sukuk, the Sukuk will be listed and trading on the Saudi Exchange (Tadawul) will commence, and an announcement will be made at that time.
This announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the Sukuk. The Bank will announce any other relevant material developments in due course as required by the relevant rules and regulations.